RE/MAX All Points Realty



What do you do after your offer is accepted?

After an offer is accepted, if there are any inspections required, they would be scheduled right after the price agreement. Once the inspections are completed, a mortgage application must be completed as well as any other paperwork. Also, the bank will require documentation and other items to satisfy the mortgage conditions. This is an important aspect to know from the beginning, so that the items can be organized when presenting them to the bank.


Get a loan!

Did you get pre-approved for a loan before you began your search?
If so, well done! It’s now time to move forward with the pre-approval with the lender you selected, set up a meeting.
If you did not get pre-approved for a loan before your search, learn more about the about the pre-approval process.


Schedule a home inspection

Should I schedule a home inspection before I buy the home or condo?
Although home inspections aren’t required, they are always recommended. Home inspections become increasing important if you will not be getting a loan.

Your experienced realtor will be able to recommend a home inspector they have worked with in the past. Be sure to go over the inspection report in detail with the inspector and ask lots of questions.

By learning as much as you can before finalizing the purchase, you will familiarize yourself with any problems with the property and the costs to fix them. Use your home inspector as a source to answer all your questions. They have a lot of experience and will be able to provide their professional opinion.

Ask your home inspector if they check the property for insects and pests. This is often an additional cost, but it could be important information to know.

Aside from familiarizing yourself with the property you are interested in purchasing, conducting a home inspection will detect any problems with the property. In many cases, this can play a factor in the price of the home and the seller may offer to cover the cost of the repairs or adjust the selling price.

Should I get a professional property appraisal?

The appraisal gives you a detailed report on the value of the home. The lender will be able to help with this unless you prefer to source your own.

A property appraisal is important because a lender won’t give you a loan for more than the appraised value of the property. If the home’s appraised value is less than the purchase price, you will need to either make a greater down payment or negotiate with the seller to lower the asking price.

Prepare your funds

Are the funds you need for closing and in reserves accessible?

They should be.

If your funds are currently tied in an investment, be sure to start the process of pulling the money out right away. Be sure to keep the paperwork for the transaction to show your lender you liquidated funds to get your down payment.

Homeowners insurance

In most cases, buyers are expected to pay for homeowners insurance upfront, before closing on a property purchase. Keep in mind; the location of your purchase may also play a factor in additional insurance on the property such as flood insurance. For the best rate, be sure to shop around at several different insurance companies. Before approving your mortgage, your lender will need proof of insurance.

Final walk-through

48 hours before closing the purchase of your property, you will be allowed to do a final walk-through of your new home.

Use this as an opportunity to ensure items you agreed to in your contract have remained (appliances, lighting fixtures, etc.). Be sure to check the condition of the home to make sure no damages have occurred since the last time you were on the property. During the walk-through, check basic functions such as toilet flushing, lights are working, furnace/AC are operational, hot water is running, etc. Make note of any differences you see compared to what you agree upon. If this is the case on your property during the final walk-through, you may postpone the closing to give the seller time to fix the problems you detected.

Closing date

Closing date is the day when you sign the mortgage documents and officially gain ownership of the property.

You will need to bring picture ID and a certified or cashier’s check to pay closing costs. Make sure all closing costs are what you agreed to previously. It might be a good idea to bring along a checkbook for any unexpected. Check with your Realtor in advance to get details about your closing. Find out the when and where from the closing attorney.

Research some movers and book time off work in advance and don’t make any solid plans until you know your confirmed closing date.

Contact your insurance company/provider. Get details and paperwork to bring to the closing.

Lastly, make arrangements for utilities. Whether it’s setting up a new account or transferring your existing services.